Jeffrey Mims MARK 3324 Market Research 1 Motivation Personality and Emotion 2 Consumer Discussion 3 Why do we do Marketing Research a Market Orientation b Qualitative c Quantitative Research surveys d To develop a survey you must come up with a series of questions Experimental Research Ch 10 Motivation Personality and Emotion Pg 353 Study Table of Two Useful Motivation Theories 1 Maslow s Hierarchy of Needs 2 McGuire s Psychological Motives o A macro theory designed to account for most human behavior in general terms A fairly detailed set of motives used to account for specific aspects of consumer behavior Motivation Theory and Marketing Strategy 1 Manifest Motives 2 Latent Motives Three Types of Motivational Conflict 1 Approach Approach Motivational Conflict Examples a A choice between two attractive alternatives 2 Approach Avoidance Motivational Conflict Examples a A choice with both positive and negative consequences 3 Avoidance Avoidance Motivational Conflict Examples a A choice involving only undesirable outcomes Slide 10 6 Differences in Regulatory Focus Table 10 2 Promotion and Prevention Focused Ads Collectivists have a more prevention focused approach Individualists are more Promotion focused 4 Ideal vs Ought a Ideal aligned with promotion focused Jeffrey Mims MARK 3324 focused b Ought something you probably have to do More aligned with prevention 5 Regulatory fit happens when an ad fits your motivation 6 Deadline Effect think about Groupon Customers tend to make more purchases the closer to a deadline it is They are Promotion focused When it is closer to the deadline they become Prevention focused 7 Personality a Multi trait Approach The Five factor Model is the most commonly used by marketers and identifies five basic traits that are formed by genetics and early learning b Single Trait Approach 1 2 3 Reflects an individual difference in consumers propensity to be Consumer Ethnocentrism biased against the purchase of foreign products Need for Cognition Reflects an individual difference in consumers propensity to engage in and enjoy thinking Consumers Need for Uniqueness Reflects an individual difference in consumers propensity to pursue differentness relative to others through the acquisition utilization and disposition of consumer goods 8 When telling someone that they will gain something by purchasing using my product that means that the message is promotion focused 9 The Five Factor Model of Personality a Extroversion b Instability c Agreeableness d Openness to experience e Conscientiousness 10 Maximization You want the best outcome Maximizers are almost never happy in life 11 Brand Personality when you see some human characteristics in a brand Jeffrey Mims MARK 3324 a Sincerity b Excitement c Competence d Sophistication e Ruggedness Chapter 11 Attitudes and Influencing Attitudes 1 Attitude Components and Manifestations a Affective Emotions or feelings about specific attributes or overall object b Cognitive Beliefs about specific attributes or overall object When you come up with a reason or pros and cons this is cognitive c Behavioral Behavioral intentions with respect to specific attributes or overall object d The Cognitive component is difficult to change The Affective component it easier to change 2 Elm Model a Central Cognitive route to persuasion i Persuasion generally alters product beliefs which influence brand attitude which influences purchases intentions b Peripheral Affective route to persuasion i Persuasion operates through classical conditioning affect change attitude toward the ad and non conscious belief changes lead to a behavioral and attitude change 3 Three types of Communication Characteristics a Source Characteristics represents who delivers the message i Source Credibility persuasion is easier when the target market vies the message source as highly credible b Appeal Characteristics represents how the message is communicated i Celebrity Sources Celebrity sources can be effective in enhancing attention attitude toward the ad trustworthiness expertise aspirational aspects and meaning transfer c Message Structure Characteristics represents how the message is presented i Sponsorship Sponsorships often work in much the same manner as using a Jeffrey Mims MARK 3324 celebrity endorser 4 Message Structure Characteristics a One sided vs Two sided Messages b Positive vs Negative Framing c Nonverbal Components Ch 14 Consumer Decision Process 1 Types of Consumer Decisions a Nominal decision making this is the least involved decision making process These are purchases that are more routine such as a specific detergent brand milk cheese etc b Limited decision making A small amount of time with the decision making process Used more in comparison shopping with competitor brands c Extended decision making Decisions are based mostly on word of mouth d Potential Questions Which is the least involved process 2 The Process of Problem Recognition Chart a Active Problem b Inactive Problem This is the problem where you need less promotional activity Ch 15 Information Search 1 All Potential Alternatives a Awareness set b Evoked set c Inert set d Inept set 2 Endowment Effect 3 Sources of Information a Online information is expected Jeffrey Mims MARK 3324 b Online information boosts offline sales c Online sources are viewed as valuable d Online sources reduce salesperson s role 4 Costs vs Benefits of External Search Study Table 15 2 a Market Characteristics b Product Characteristics c Consumer Characteristics d Situation Characteristics Ch 16 Consumer Choice 1 An Examination of Rational Choice Theory a Assumption Consumers seek one optimal solution to a problem and choose on that basis Reality Consumers have all sorts of metagoals that are different from this b Assumption Consumers have the skill and motivation to find the optimal solution Reality Consumers often lack both the skill or motivation to do so c Assumption The optimal solution does not change as a function of situational factors such as time pressure task Reality Context effects are common d Prospect Theory i System 1 ii System 2 e Loss Aversion 2 Three types of consumer choice processes a Affective Choice A decision based on emotion For example eating ice cream in order b Attitude Based Choice Your attitude towards a certain product has shaped how you c Attribute Based Choice basing a decision on the attributes of a product This is a more to repair mood after a break up feel about the product cognitive